Mutual Funds

Labour Sponsored Investment Funds

Labour Sponsored Investment Funds (LSIFs) are corporations sponsored by labour organizations designed to invest in small and mid-size Canadian businesses subject to the following criterion:

Less than 500 employees

Less than $50 million in assets at the time of investment

Maximum $15 million investment

LSIFs now account for approximately 40% of all venture capital raised in Canada. LSIFs are a way to try to reduce risk and enhance potential returns. A typical LSIF investor reduces the risk exposure of investing in venture capital by holding a diversified portfolio of small- to mid-size companies. LSIFs may specialize in certain sectors of activity, such as biotechnology or information technology. They also differ in the investment stage of companies.

LSIF Tax Benefits

Since venture capital supports technologies important to Canada's long-term economic well being, federal and provincial governments offer tax credits to Canadians who invest in LSIFs. The Federal Government offers a 15% tax credit on a maximum LSIF investment of $5,000 each year. Most provincial governments across the country offer an additional 15% tax credit on eligible LSIF investments, creating a total federal and provincial tax credit of 30%. The Ontario Government offers a 20% tax credit on research oriented investment funds (ROIF) LSIFs, generating a total of 35% in tax credits. If investors redeem their LSIF investment within 8 years, then the tax credits will be clawed back by the governments.

The LSIF Advantage

LSIFs offer a diversified portfolio of venture capital to investors who have a long-term investment horizon and a willingness to assist in the development of Canada's highest growth industrial sectors. Investors looking for the potential of higher returns and tax benefits ought to take a closer look at LSIFs. However, it is important to remember that due to the nature of the companies being invested in, this asset class has an inherently higher level of risk associated with it.

For more information, contact an Investment Representative at 1-800-465-5463.

The following Labour Sponsored Investment Funds are available from TD Direct Investing.

APV100

Algonquin Power Venture Fund I

ALT100

Altruista Fund Inc.

CIG559

Altura Growth Fund (EVCC) Inc.

UAL100

B.E.S.T. Discovers Fund (DSC)

CIG509

BPI Ensis Growth LSVCC (DSC)

CIG508

BPI Ensis Growth LSVCC

CIG912

C.I. Covington II (DSC)

CIG917

C.I. Covington Strategic Capital Series II

CAV001

Capital Alliance Ventures (DSC)

CCP100

CCP Crown Ventures Fund Inc.

CRO001

Crocus Labour Fund (DSC)

DYN769

Dynamic Venture Opportunities

FOM001

First Ontario Fund (DSC)

FOM101

First Ontario Growth (DSC)

GOF501

Golden Opportunities Fund Inc.

WVN641

Growthworks (WV) Canadian Balanced

WVN691

Growthworks (WV) Canadian Diversified

WVN671

Growthworks (WV) Canadian Financial Services

WVN651

Growthworks (WV) Canadian Growth

WVN661

Growthworks (WV) Canadian Income

WVN681

Growthworks (WV) Canadian Resource

WVN341

Growthworks (WV) Opportunity Balanced

WVN391

Growthworks (WV) Opportunity Diversified

WVN371

Growthworks (WV) Opportunity Financial Services

WVN351

Growthworks (WV) Opportunity Growth

WVN361

Growthworks (WV) Opportunity Income

WVN381

Growthworks (WV) Opportunity Resource

MFC1229

Mackenzie Vengrowth Advanced Life Sciences

MFC1899

Mackenzie Vengrowth III Investment Fund

MFC1599

Mackenzie Vengrowth Traditional Industries (LSVCC)

RGF001

Retrocom Growth Fund

ROI102

Return on Innovation (ROI) Fund Series II

TAL875

Talvest Canadian Medical Discoveries

TAL174

Talvest Canadian Medical Discoveries II (DSC)

TAL172

Talvest Canadian Sci & Tech (DSC)

TRX820

Triax Capital First Venture

TRX801

Triax Financial Ind. Opp. Sr. II

DCC100

British Columbia Discovery

FOM002

First Ontario Fund (DSC)

FSC102

Front Street Energy Growth Ser. III

MAV306

Lawrence Enterprise Series IV

MFC679

Mackenzie Vengrowth II (DSC)

PGF103

Pender Growth Fund VCC

TRX503

Triax E2 Venture Fund II

TRX103

Triax Growth Fund DSC III

TRX403

Triax New Generation Biotech Equity III

TRX703

Triax Venture Partners Equity III

CIG6924

Venturelink Brighter Future Eq. IV

CIG6934

Venturelink Diversified Inc. IV

CIG6914

Venturelink Financial Services IV

CIG6904

Venturelink Fund, Series IV

WOF141

Working Opportunities Bal.

WOF151

Working Opportunities Growth

WVN610

Working Ventures (DSC)

WVN630

Working Ventures Opportunity

This list is subject to change. Certain funds are not available in every province. For complete information and confirmation of availability, including details of inclusions or exceptions with respect to our pricing programs, please contact an Investment Representative at 1-800-465-5463.